TERMS AND CONDITIONS
This agreement, together with any Schedule(s) and accompanying documents, as amended from time to time
(hereafter referred to as the “Agreement”) sets out the terms of contract entered into by and between the Client
(hereinafter referred to as
“you”, “your”) and AFXMarkets Limited -
(hereinafter referred to as “Company”, “AFXMarkets”, “we”, “our”).
AFXMarkets Limited with its registered address at 12 Arch. Makarios III Avenue
Office 201, Mesa Geitonia 4000, Limassol on the one part and the Client
who has registered for a trading account with the Company as well as deposited funds on the other part. The
Company is authorised and regulated by the Cyprus Securities and Exchange Commission (hereinafter referred
to “CySEC” ), to provide the Investment and Ancillary Services as defined in this
Agreement and under the Provision of Investment Services, the Exercise of Investment Activities, the
Operation of Regulated Markets and Other Related Matters Law of the L.87(I)/2017 (the ‘’Law’’).
The Company will provide the Investment and Ancillary Services covered by this Agreement to the Client,
through its online electronic system (hereinafter called the “Trading Platform”). The terms and conditions may
be amended from time to time after a proper notification has been given to the Client by the website of the
Company.
The Client confirms that he/she has read, understood and accepted all the information, conditions and terms set
out in the Company’s website www.afx-markets.com (hereinafter referred to as the “Website”), which is
available to the public and include important legal information, including the ‘Order Execution Policy’, the
‘Risk Disclosure Statement’, the ‘Conflict of Interest’, the ‘Client Categorisation’, the ‘Complaints Handling
Policy, the ‘Investor Compensation Fund Notice’, the ‘Privacy Policy and the ‘Key Information Documents’
that provides you with key information about the investment product(s) we offer you.
It is noted that the Company may operate other websites apart from the main website mentioned above and
which may contain information concerning the Company, its services and the legal framework to which the
Company is bounded, in different languages other than the English language.
By accepting the Agreement, the Client entera into a legal and binding agreement with AFXMarkets Limited and
assures the Company that agrees, understands and accepts with the terms contained in this Agreement as well
as other documentation/information on the Website in addition to the Legal Documentation included in
Company’s site. If you do not agree to be bound by the terms and conditions of this Agreement, then you should
not use or access the Company’s services and inform the Company in writing immediately. The Client accepts
this Agreement by registering a Trading Account on the Website and depositing funds. The Client ensures to
take sufficient time to read the Agreement as well as any other additional documentation and information
available to you via our Website prior to opening an account and/or carrying out any activity with us.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
COMMUNICATION WITH US
You may communicate with us in writing, by email or other electronic means, or orally (including by
telephone). For further details, please refer to Contact Us section of the Company’s website. The language of
communication shall be English and you will receive documents and other information from us in English.
However, where appropriate and for your convenience, we will endeavour to communicate with you in other
languages. Our website contains further details about us and our services, and other information relevant to this
Agreement. By accepting and agreeing to this Agreement and further opening an account with the Company,
the Client accepts the following terms and conditions.
By accepting and agreeing to the Terms and Conditions of this Agreement, the Client agrees that the provision
of information through electronic means such as the Company’s website or the verified email of the Client, due
to the nature of the relationship established between the Company and the Client.
The provision of information by means of electronic communication is treated as appropriate
since the client has regular access to the internet. The provision by the Client of an e- mail address for the
purposes of the carrying on of that business is considered as sufficient evidence. Through the following terms
and conditions, the Client is provided with the specific addresses where core information is accessible. The
Company will ensure that the website will be always kept up to date.
1. INTERPETATION OF TERMS
“Account" means the personal trading account the Client maintains with the Company and designated with a
particular account number.
“Access Codes” means the username and password given by the Company to the Client for accessing the
Company’s electronic systems.
“Agreement” means the present Agreement for the Services offered by the Company.
“Applicable Regulations” means CySEC Legislation, Directives, Circulars or other Regulations issued by
CySEC and govern the operations of Cyprus Investment Firms.
“Balance” means the sum held on behalf of the Client on its Client Account within any period of time.
“Base Currency” means the first currency in a currency pair.
“Business Day” means a day which is not a Saturday or a Sunday or a public holiday in Cyprus or any other
holiday to be announced by the Company on its website.
“CIF Authorization” means the license the Company has obtained from CySEC, as this may be amended from
time to time and which sets out the investment and ancillary services the Company is authorized to provide.
“Client” means a natural person, accepted by the Company as its Client to whom Services will be provided by
the Company under the Terms of the present agreement.
“Close Position” means deal of purchase (sale) covered by the opposite sale (purchase) of the contract.
“Contract Specifications” means all necessary trading information concerning spreads, margin requirements
etc., as determined in the Company’s main website.
“CRS” shall mean the Common Reporting Standard.
“CySEC” means the Cyprus Securities and Exchange Commission.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
“ CFD” shall mean Contract for Differences
“Execution of orders” means the execution of clients’ order(s) on the Company’s trading platform, where the
Company acts as a Principal to Clients’ transactions
“Equity” means the balance plus/minus any profit/loss that derives from any open positions.
“Financial Markets” means international financial markets in which currency and other financial assets
exchange rates are determined in multi-party trade.
“Financial Instruments” means any of the financial instruments offered by the Company and which are defined
as such under applicable Law or Regulation. According to the Company’s license these are:
1.
Transferable securities
2.
Money Market instruments
3.
Units in collective investment undertakings
4.
Options, futures, swaps, forward rate agreements and any other derivative contracts relating to
securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or
financial measures which may be settled physically or in cash.
5.
Options, futures, swaps, forward rate agreements and any other derivative contracts relating to
commodities that must be settled in cash or may be settled in cash at the option of one of the parties
(otherwise than by reason of a default or other termination event).
6.
Options, futures, swaps, and any other derivative contract relating to commodities that can be physically
settled provided that they are traded on a regulated market or/and an MTF.
7.
Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can
be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial
purposes, which have the characteristics of other derivative financial instruments, having regard to
whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to
regular margin calls.
8.
Derivative instruments for the transfer of credit risk.
9.
Financial contracts for differences.
10. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic
variables, freight rates, emission allowances or inflationnrates or other official economic statistics that
must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by
reason of a default or other termination event), as well as any other derivative contract relating to assets,
rights, obligations, indices and measures not otherwise mentioned in this Part, which have the
characteristics of other derivative financial instruments, having regard to whether, inter alia, they are
traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or
are subject to regular margin calls.
“FATCA” means a United States federal law full name of which is The Foreign Account Tax Compliance Act.
“FFI” stands for Foreign Financial Institution.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
“GDPR” means and include the Regulation (EU) 2016/679 on the protection of natural persons with regard to
the processing of personal data and on the free movement of such data.
“Investor Compensation Fund” (ICF) means the fund of clients of CIFs, who are fund members, established
pursuant to article 59(1) and (2) of the Law, and whose powers and functions are regulated by the provisions of
the Law and this Directive DI144-2007-15 of 2015 of the CySEC.
“Law” means the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017) as
this may, from time to time be amended or replaced.
“Margin” means the amount of funds required to open positions and for each open position held open in
clients’ trading account in accordance with the chosen leverage.
“MTF” means Multilateral Trading Facility.
“Open Position” means a long or short position whose value is changing in accordance with change of the
market price of the financial instrument.
“Operating (Trading) Time of the Company” means period of time within a business week, where the trading
terminal of the Company provides the opportunity of trading operations. The Company reserves the right to
alter this period of time as fit, upon notification to the Client.
“Order” means the request / instruction given by the Client to the Company to Open or Close a Position in the
Client’s Account
“Professional Client” means as specified in the Client Categorisation Policy available in Company’s website.
“Prices” means the prices offered to the Client for each transaction which may be changed without prior notice.
Where this is relevant, the “Prices” given through the Trading Platform include the Spread (see definition
below).
“Retail Client” means a Client who is not a “Professional Client” or an “Eligible Counterparty” under the
meaning of the EU Markets in Financial Instruments Directive (hereinafter - “MiFID II”) and in accordance to
the Investment Services and Activities and Regulated Markets Law of 2007.
“Services” means the investment services which will be provided by the Company to the clients and are
governed by this Agreement as these are described in Paragraph 2 of this Agreement.
“Spread” means the difference between the purchase price ASK (rate) and the sale price BID (rate) at the same
moment for the same financial instrument.
“Swap” means is a fee which is added/deducted from client’s trading account for holding a position overnight.
“Transaction” means any type of transaction subject to this Agreement effected in the Client’s trading
account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trades and any other
transaction of any financial instrument for which the Company is authorised under its CIF authorisation to
provide.
“US Reportable Persons” - for the purposes of this Agreement means, a US Reportable person who, in
accordance with FATCA provisions, are defined as follows:
1. a US citizen (including dual citizen)
2. a US resident alien for tax purposes
3. a domestic partnership
4. a domestic corporation
5. any estate other than a foreign estate
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
6. any trust if:
• a court within the United States is able to exercise primary supervision over the administration of the
trust
• one or more United States persons have the authority to control all substantial decisions of the trust
7. any other person that is not a foreign person
Please note that the Company does not accept clients that are US Reportable Persons. In this Agreement,
all the words that denote only the singular number will also comprise the plural, wherever the aforementioned
definitions apply and vice versa, and the words that denote natural persons will comprise legal persons and vice
versa. Words denoting any gender include all the genders and whenever reference is made to the terms
“Paragraphs”, “Sections” and “Appendices” it concerns paragraphs, sections and appendices of this Agreement.
The headings of the Sections are only used for facilitating the reference and they do not affect their interpretation.
References to any law or regulation will be considered to comprise references to that law or regulation as this
can be altered or replaced from time to time or, similarly, to be extended, re-enacted or amended.
Any term used in this Agreement and not otherwise interpreted, shall have the meaning attributed thereto in the
Law and/or any EU Directive.
2. CANCELLATION OF THIS AGREEMENT
You have the right to cancel this Agreement for a Period of thirty (30) days commencing on the date on which
this Agreement is signed. Should you require to cancel this Agreement within the above-mentioned period, you
accordance with the terms of this paragraph, does not imply that you will cancel any transaction that has been
carried out during that period. The Client should not have any open positions by the date of cancellation. The
Company is obliged to return all of the remaining funds left on the customer’s balance upon his request to
terminate the Agreement.
3. PROVISION OF SERVICES
The following investment and ancillary services which the Company is authorized to provide in accordance
with its CIF authorization are governed by this Agreement. The Company will provide the services in its
capacity as a market maker under the terms of this Agreement. The services are as follows:
Investment services:
i.
Reception and transmission of orders in relation to one or more financial instruments.
ii.
Execution of orders on behalf of clients;
iii.
Dealing on own account; and
iv.
Portfolio Management.
v.
Investment Advice
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
Ancillary services:
1. Safekeeping and administration of financial instruments for the account of clients, including
custodianship and related services such as cash/ collateral management; Granting credits or loans
to an investor to allow him to carry out a transaction in one or ore financial instruments, where the
firm granting the credit or loan is involved in the transaction;
2. Foreign exchange services where these are connected to the provision of investment services; and
3. Investment research and financial analysis or other forms.
A separate agreement will be signed if the Company will provide to the Client other investment services, which
are set out in its CIF authorization. In addition, the Company might provide the Client with the ancillary services
in accordance with its CIF authorization.
a)
It shall be clarified and noted that the Company deals on an execution-only basis and do not advice on
the merits of particular Transactions, or their taxation consequences.
b)
The Client assumes all responsibility in relation to any investment strategy, transaction or investment,
tax costs, and for any consequences brought by from any transaction that the Client performs and the
Company shall not be held responsible nor the Client shall rely on
c)
the Company for the aforementioned.
d)
Where the Company provides general trading recommendations, market commentary or other
information in its newsletters and/or website:
e)
this is incidental to Client dealing relationship with the Company. It is provided solely to enable the
Client to make own investment decisions and does not result to investment advice;
f)
if the document contains a restriction on the person or category of persons for whom that document is
intended or to whom it is distributed, the Client agrees that he/she will not pass it on to any such person
or category of persons;
g)
the Company gives no representation, warranty or guarantee as to the accuracy or completeness of
such information or as to the tax consequences of any Transaction;
h)
the Client accepts that prior to its dispatch, the Company may have acted upon it for its own account
or made use of the information on which it is based. The Company does not make representations as
to the time of receipt by the Client and cannot guarantee that the Client will receive such information
at the same time as other clients. Any published research reports or recommendations may appear in
one or more screen information service.
i)
The Company will act in the capacity of a principal on Client’s behalf.
j)
The Company’s operating hours are from 09:00 GMT on Sunday to 21:00 GMT on Friday, excluding
holidays which will be announced through the Company’s website. The Company reserves the right
to suspend or modify the operating hours on its own discretion and on such event its website will be
updated without delay in order for the Client to be informed accordingly.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
k) The Company has the right to refuse the provision of any investment and/or ancillary service to the
Client, at any time, without being obliged to inform the Client of the reasons why in order to protect
the lawful interests of both the Client and the Company.
l) The Company may, at its sole discretion, arrange for any Transaction to be effected with
m) or through the agency of an intermediate broker, who may be an Associate of the Company, and may not
be in the Cyprus. Neither Company nor its respective directors, officers, employees or agents will be
liable to the Client for any act or omission of an intermediate broker or agent. No responsibility will be
accepted for intermediate brokers or agents selected by the Client.
4. CLIENT CATEGORISATION
4.1 The Company only provide you with our services in accordance with our policies and procedures and so
long as it is not in breach of any of our legal obligations.
The Company is required “Applicable Regulations” categorize any Client as a Retail Client, Professional
Client or Eligible Counterparty (“ECP”), so that when carrying out business with a Client, the Company
can provide the level of information, services and protection that is appropriate to and consistent with a
Client categorization. The Client categorisation in accordance with the information provided to the
Company during the Account opening procedure. By accepting this Agreement the Client accepts
application of such method.
4.2 The Client accepts that when classifying the Client and dealing with him, the Company will rely on the
accuracy, completeness and correctness of the information provided by the Client in his Application Form
aThe Client shall inform the Company in case the Client’s personal information change. In the event that
the Client wishes to be re-categorised the Client must inform the Company in writing, clearly stating such
a wish. The final decision of the change in categorization however lies in the absolute discretion of the
Company and always in accordance with the applicable rules.
4.3 The client is bound by the method and process of categorisation as this is defined and thoroughly explained
in the “Client Categorisation Policy” which is available in our Website. Therefore, by accepting this
Agreement, the Client accepts the application of the categorisation method as this is defined in the said
Policy.
4.4 The Client has the right to register only one Trading Account, if any Client has multiple Trading Accounts
then the Client needs to inform the Company in relation to these Trading Accounts before carrying out
any transactions. If for any reason, the Company is not informed of any multiple Trading Accounts and
discovers this to be the case, the Client will be contacted in order to choose which account they wish to
keep. All other accounts will be blocked and Client's funds will be returned back to the Client. Any losses
incurred as a result of trading will not be returned to the Client.
4.5 The Company gives different levels of regulatory protection to each Client category and hence to Clients
within each category. In particular, Retail Clients are granted with the most regulatory protection;
Professional Clients and ECPs are considered to be more experienced, knowledgeable and sophisticated
and able to assess their own risk and are thus granted with fewer regulatory protections.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
5. ASSESSMENT AND SUITABILITY
5.1 In providing execution of Client Orders in relation to Company’s services on a non-advised basis, the
Company complies with its obligation under Applicable Regulations to obtain information regarding the
Client’s knowledge and assess suitability of the Service for the Client.
5.2 The Company when providing execution of Client Orders, portfolio management and advisory services,
complies with its obligations under Application Regulations to obtain information regarding the Client’s
knowledge and assess suitability of the Service of Client. The Client’s knowledge, experience in the
investment field relevant to the specific type of product or service, the Client’s financial circumstances,
financial and investment objectives, ability to bear losses and suitability of the services or financial
instrument are assessed by the Company.
5.3. The Client accepts and agrees that the he/she bears the obligation to provide the Company with accurate
and updated information and to immediately notify the Company if such information changes or becomes
inaccurate at any time.
6. CLIENT WARRANTIES
a)
The Client states, confirms and guarantees that any money handed to the Company for any purpose,
belong exclusively to the Client and are free of any lien, charge, pledge or any other burden. Further,
whatever money is handed over to the Company by the Client is not in any manner whatsoever directly
or indirectly proceeds of any illegal act or omission or product of any criminal activity.
b)
The Client acts for himself and not as a representative or a trustee of any third person, unless
c)
he has produced, to the satisfaction of the Company, a document and/or powers of attorney enabling
him to act as representative and/or trustee of any third person.
d)
The Client agrees and understands that in the event that the Company has such proofs that are adequate
to indicate that certain amounts, as classified in Paragraphs 5.1 and 5.2 of this Section, received by the
Client are proceeds from illegal acts or products of any criminal activity and/or belonging to a third
party, the Company reserves the right to refund these amounts to the sender, either this being the Client
or a beneficial owner. Furthermore, the Client also agrees and understands that the Company may
reverse any transactions performed in the Client’s Trading Account and may terminate this agreement.
The Company reserves the right to take any legal action against the Client to cover and indemnify
itself upon such an event and may claim any damages caused to the Company by the Client as a result
of such an event.
e)
The Client declares that he/she is over 18 (eighteen) years old, in case of natural person, or that it has
full legal capacity, in case of legal person, to enter into this Agreement.
f)
The Client understands and accepts that all transactions in relation to trade in any of the Financial
Instruments, will be performed only through the Trading Platform provided by the Company and the
Financial Instruments are not transferable to any other Trading Platform whatsoever.
g)
The Client guarantees the authenticity and validity of any document handed over by the Client to the
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
Company.
h)
Any information such as reports, news, opinions or any other information are provided by the
Company with the purpose to facilitate the Client in making his own investment decisions and does
not constitute personal investment advice. In case the Company is deemed, for any reason to provide
any recommendation and/or advice, the Client hereby agrees that any transaction effected either by
adopting or ignoring any such recommendation and/or advice shall be deemed to have been affected
by the Client relying exclusively on his own judgment and the Company shall have no responsibility.
The service of Investment Advice may be subject of some charges.
i)
In regard to the price movement alerts displayed in the Company’s Trading Platform refer to the past
and past performance is not a reliable indicator of future results. The Client agrees and understands
that the price movement alerts do not constitute personal investment advice.
j)
Provision of investment advice shall only be carried out by the Company after assessing the Client’s
personal circumstances and suitability. The provision of reports, news, opinions and any other
information by the Company to the Client does not constitute investment advice or investment research
if the suitability of the client is not accessed by the Company.
k)
The information presented by the technical indicators on the Company’s trading platform is indicative
only and the client hereby agrees and acknowledges that the technical indicators are merely served to
assist the clients’ in making their own investment decisions.
l)
The Company is not able to guarantee the accuracy of the information presented by the technical
indicators and it is neither a trading recommendation nor advice. The client is solely responsible for
relying on such information and any investment strategy, transaction or investment shall be deemed
to have been affected exclusively by the clients’ own decision. The Client agrees and acknowledges
that he shall be exclusively responsible for any investment strategy, transaction or investment and he
shall not rely on the Company for this purpose and the Company shall have no responsibility
whatsoever, irrespective of any circumstances, for any such investment strategy, transaction or
investment.
7.
ELECTRONIC TRADING
By accepting this Agreement, the Client is entitled to apply for Access Codes to gain online access to the
Company’s electronic systems and/or trading platforms, thereby being able to place orders for transactions to
either buy or sell any Financial Instrument available from the Company.
Further, the Client will be able to trade on the Company’s Trading Platform with and through the Company with
the use of a Personal Computer, smartphone or any other similar device that is connected to the internet. In this
respect, the Client understands that the Company can, at its absolute discretion, terminate the Client’s access to
the Company’s systems in order to protect both the Company’s and clients’ interests and to ensure the systems’
effectiveness and efficiency.
The Client agrees and declares that:
1. The Client agrees that he/she will keep the Access Codes in a safe place chosen in his/her discretion
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
and will not reveal them to any other person. The Client will not proceed and avoid proceeding in any
action that could probably allow the irregular or unauthorized access or use of the Trading Platform.
2.
The Client agrees not to attempt to abuse the Trading Platform in an attempt to make illegal profits or to
attempt to profit by taking advantage of the server latency, or applying practices such as price
manipulation, lag trading, time manipulation.
3.
The Client will make every effort possible to keep the Access Codes secret and known only to him
and will be liable of any Orders received by the Company through his trading Account under his
Access Codes. Further, any Orders received by the Company will be considered as received from the
Client. In cases where a third person is assigned as an authorized representative to act on behalf of the
Client, the Client will be responsible for all Orders given through and under the representative’s
Account Password.
4.
The Client is responsible to monitor his Account and to notify the Company immediately if it comes
to his attention that his Access Codes are lost or being used by an unauthorized third party. Also, the
Client agrees to immediately notify the Company should he become aware of any failure by the Client
to receive a message indicating the reception and/or execution of an Order, the accurate confirmation
of an execution, any information for Client’s Account balances, positions or transactions history as
well as in case the Client receives confirmation of an Order that he did not place.
5.
The Client acknowledges that the Company may choose not to take action based on Orders transmitted
to the Company using electronic means other than those Orders transmitted to the Company using the
predetermined electronic means such as the Trading Platform, and the Company shall have no liability
towards the Client for failing to take action based on such Orders.
6.
The Client agrees to use software programs developed by third parties including but not limited to the
generality of those mentioned above, browser software that supports Data Security Protocols
compatible with protocols used by the Company. Moreover, the Client agrees to follow the access
procedure (Login) of the Company that supports such protocols.
7.
The Company will not be held responsible in the event of an unauthorized access from third persons
to information including, but not limited to, electronic addresses and/or personal data, through the
exchange of these data between the Client and the Company and/or any other party using the Internet
or other network or electronic mean available.
8.
The Company is not responsible for any power cuts or failures that prevent the use of the system and/or
the Trading Platform and cannot be responsible for not fulfilling any obligations under this Agreement
because of network connection or electricity failures. In the case of such electricity / communication/
Internet failures, if the Client wishes to place an Order, then the alternative means of
communications/placing orders will be by phone, or by submitting their trade orders to the Dealing
decline any verbal instruction in cases where its telephone recording system is not operational or in
cases where the Company is not satisfied of the caller’s/Client’s identity or in cases where the
transaction is complicated or in cases where the quality of the line is poor. The Company further
reserves the right to ask the Client to give instructions regarding the Client’s transactions by other
means that it deems appropriate.
9.
The Company shall have no liability for any potential damage the Client may suffer as a result of
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network
overloads, viruses, system errors, delays in execution, malicious blocking of access by third parties,
internet malfunctions, interruptions or other deficiencies on the part of internet service providers. The
Client acknowledges that access to electronic systems / trading platforms may be limited or unavailable
due to such system errors, and that the Company reserves its right upon notifying the Client to suspend
access to electronic systems / trading platforms for this reason.
10. The Company has the right, unilaterally and with immediate effect, to suspend or withdraw permanently
Client’s ability to use any Electronic Service, or any part thereof, without notice, where the Company
consider it necessary or advisable to do so, for example due to Client’s non- compliance with the
Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of
Default, network problems, failure of power supply, for maintenance, or to protect the Client when
there has been a breach of security.
In addition, the use of an Electronic Service may be terminated automatically, upon the termination (for
whatever reason) of any license granted to the Company which relates to the Electronic Service; or this
Agreement. The use of an Electronic Service may be terminated immediately if an Electronic Service is
withdrawn by any Market or the Company is required to withdraw the facility to comply with Applicable
Regulations.
8. PLACEMENT AND EXECUTION OF ORDERS
i.
The Company may, in certain circumstances, accept instructions, by telephone via the Company’s
Dealing Room, provided that the Company is satisfied, at its full discretion, of the Client’s identity and
the Company is further also satisfied with the clarity of instructions. In case of an Order received by the
Company in any means other than through the Trading Platform, the Order will be transmitted by the
Company to the Trading Platform and processed as if it was received through the Trading Platform.
ii.
It is understood that an Order will not be affected until it is actually considered received by the Company.
It is noted that in this Agreement, instructions and orders have the same meaning.
iii.
Due to market volatility, the Company reserves the right to change the group settings.
iv.
In the event that the Company wishes to confirm in any manner any instructions and/or Orders and/or
communications sent through the telephone, it reserves the right to do so. The Client accepts that there is
a risk of misinterpretation or mistakes in the instructions or Orders sent through the telephone, regardless
of what caused them, including, among others, technical failures.
v.
Once the Client’s instructions or Orders are received by the Company, they cannot be revoked, except
with the Company's written consent which may be given at the Company's sole and absolute discretion.
The Company reserves its right not to accept Client’s Orders, in its absolute discretion, and in such a
case the Company shall not be obliged to give a reason, but it shall promptly notify the Client
accordingly.
vi.
The transaction (opening or closing a position) is executed at the "BID" / "ASK" prices offered to the
Client. The Client chooses the position he wishes to take and makes a request to receive a transaction
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
confirmation by the Company. The transaction is executed at the prices the Client can see on the screen.
Due to the high volatility of the markets during the confirmation process the price may change, and the
Company has the right to offer the Client a new price. In the event the Company offers the Client a new
price the Client can either accept the new price and execute the transaction or refuse the new price, thus
cancelling the execution of the transaction.
vii. The Company uses it’s reasonable endeavors to execute any order promptly, but in accepting the Client’s
orders the Company does not represents or warrants that it will be possible to execute such order or that
execution will be possible according to the Client’s instructions. In case the Company encounters any
material difficulty in carrying out an order on Client’s behalf, for example in case the market is closed
and/or due to illiquidity in financial instruments and other market conditions, the Company shall promptly
notify the Client. The Client agrees that the Company may execute an order on Client’s behalf outside a
regulated market and that the Company’s order execution policy will not apply when the Client places a
specific instruction.
viii. The following orders are available to the Client through the Trading Platform:
1. Open position
2. Close position
3. Orders for stop loss, Take profit, Pending Orders - Buy Limit, Buy Stop, Sell Limit, Sell Stop
Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain
effective through the next trading session. The Client’s Order shall be valid and in accordance with the type and
time of the given Order, as specified. If the time of validity of the Order is not specified, it shall be valid for an
indefinite period.
i.
The Company may require the Client to limit the number of open positions which the Client may have
with the Company at any time and the Company may in its sole discretion close out any one or more
Transactions to ensure that such position limits are maintained. The position limits will be notified in
advance to the Client either through the Company’s website or trading platforms.
ii.
The Company has the right to set control limits in relation to Client’s orders at its own and absolute
discretion. Such limits may be amended, removed or added and may include without limitation: (a)
controls over maximum order amount and size; (b) controls over the Company’s total exposure to the
Client; (iii) controls over prices at which orders may be placed; (iv) controls over the electronic
systems and/or trading platforms to verify for example the Client’s identity during the receipt of the
order; or (v) any other limits, parameters or controls which the Company may deem required to be
implemented in accordance with Applicable Regulations.
iii.
There may be restrictions on the number of Transactions that the Client can enter into on any one day
and also in terms of the total value of those Transactions when using an Electronic Service. The Client
acknowledges that some Markets place restrictions on the
ii.
types of orders that can be directly transmitted to their electronic trading systems.
iii.
These types of orders are sometimes described as synthetic orders. The transmission of synthetic orders
to the Market is dependent upon the accurate and timely receipt of prices or quotes from the relevant
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
Market or market data provider. The Client acknowledges that a Market may cancel a synthetic order
when upgrading its systems, trading screens may drop the record of such an order, and the Client enters
such orders at his own risk. The Client shall refer to the Company’s website for details of the
restrictions / limits imposed on Transactions performed through its electronic systems and/or trading
platforms.
b. Trade Confirmations
In order to comply with the legal requirements of MiFID II, AFXMarkets Limited
Limited) in an alternative durable medium provides Statement of Client’s Assets on a monthly basis
which includes all the information such as details of all the financial instruments or funds held by the
Investment Firm. The Statement of Client’s Assets is sent to clients’ registered emails addresses which
is available for review at any time.
c. Authorization of third person to give instructions on behalf of a Client
1. The Client has the right to authorize a third person to give instructions and/or Orders to the Company
or to handle any other matters related to this Agreement, provided that the Client has notified the
Company in writing that such a right shall be exercised by a third party and that this person is approved
by the Company and fulfils all of Company’s conditions to allow this.
2. In case the Client has authorised a third person as mentioned in Section 7.3.1 above, it is agreed that in
the event that the Client wishes to terminate the authorisation, it is the Client’s full responsibility to
notify the Company of such decision in writing. In any other case, the Company will assume that the
authorisation is still ongoing and will continue accepting instructions and/or Orders given by the
authorised person on behalf of the Client.
9. PRICING
a. The Company may act as a Principal in relation to Transactions and the execution may be done on an own
account basis by the Company acting as principal or sent for execution by another entity. The Company will quote
prices at which it is prepared to deal with the Client. Save where:
• The Company exercises any of its rights to close out a Transaction; or
• a Transaction closes automatically, it is Client’s responsibility to decide whether or not he wishes
to deal at the price quoted by the Company. Company’s prices are determined by the Company
in the manner set out in the enclosed terms.
b. Each price shall be effective and may be used in a dealing instruction prior to the earlier of its
expiration time and the time, if any, at which it is otherwise withdrawn by the Company. A price may
not be used in a dealing instruction after such time. Each price shall be available for use in a dealing
instruction for a transaction with a principal amount not to exceed a maximum determined by the
Company. The Client acknowledges that these prices and maximum amounts may differ from prices and
maximum amounts provided to other customers of the Company and may be withdrawn or changed
without notice. The Company may in its sole discretion and without prior notice to the Client
immediately cease the provision of prices in some or all currency pairs and for some or all value dates
at any time.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
c. When the Company quotes a price, market conditions may move between Company’s sending of the
quote and the time the Client’s order is executed. Such movement may be in Client’s favour or against
it. Prices that may be quoted and/or traded upon, from time to time, by other market makers or third
parties shall not apply to trades between the Company and the Client.
10. LEVERAGE
Following the formal adoption of measures on CFDs by The European Securities and Markets Authority
(ESMA), all retail clients that demonstrate the appropriate knowledge and experience during the registration
process shall have the following maximum leverage settings on their account in relation to CFDs:
•
30:1 for major currency pairs;
•
20:1 for non-major currency pairs, gold and major indices;
•
10:1 for commodities other than gold and non-major equity indices;
•
5:1 for individual equities and other reference values;
•
2:1 for cryptocurrencies
Client Leverage Options
The Company has the right and may at its own discretion decrease the leverage offered to a specific client taking
into consideration the particular client trading experience and knowledge. The client will be informed prior to
any changed,
Lower than the leverage under paragraph 8 of the Client Agreement will be offered to clients upon request.
Further to the above, the client who wish to obtain lower level of leverage, should send an email to
[email protected] requesting to be allowed to decrease leverage beyond the levels set in the
aforesaid paragraph up to the maximum levels stated in paragraph. The minimum default leverage ratio of
maximum is 1:30 for major currency pairs and of maximum 1:20 for non-major currency pairs.
11. DECLINE OF CLIENT’S ORDERS
11.1 The Company has the right, at any time and for any reason and without giving any notice and/or
explanation, to refuse, at its discretion, to execute any Order, including without limitation in the
following cases:
a) If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to
manipulate the market, trading on inside information, relates to money laundering activities or if it can
potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b) If the Client does not have sufficient available funds deposited with the Company or in his bank
account to pay the purchase price of an Order along with the respective fees and commissions
necessary to carry out the transaction in the Trading Platform.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which
the Client may have towards the Company or any right which the Company may have against the Client or his
assets.
The Client declares that he shall not knowingly give any Order or instruction to the Company that might
instigate the Company taking action in accordance with Paragraph 9.1 above.
12. CANCELLATION OF TRANSACTIONS
The Company has the right to cancel a transaction if it has adequate reasons / evidence to believe that one of
the following has incurred:
Fraud / illegal actions led to the transaction,
a) Orders placed on prices that have been displayed as a result of system errors or systems
malfunctions either of those of the Company or of its third-party service providers.
b) The Company has not acted upon Client’s instructions.
c) The Transaction has been performed in violation to the provisions of this Agreement.
13. SETTLEMENT OF TRANSACTIONS
13.3.The Company shall proceed to a settlement of all transactions upon execution of such transactions.
13.4.Further to the provisions of paragraph 7.2 of this Agreement, a statement of Account will be provided by
the Company via the Trading platform to the Client on a monthly basis, within three (3) working days
from the end of the previous month. In case no transactions were concluded in the past month, the Client
will not receive a statement of Account. Any confirmation or proof for any act or statement of Account
or certification issued by the Company in relation to any transaction or other matter shall be final and
binding on the Client, unless the Client has any objection in relation to such statement of Account or
certification and the said objection is communicated in writing and received by the Company within five
(5) working days from the receipt or the deemed date of receipt of any statement of Account or
certification.
13.5.In the case where the Client is able to have an online statement for his Account on a continuous basis,
then the Company is considered as having fulfilled its obligations under Paragraph 12.2 and any objections
of the Client shall be valid only if received by the Company in writing within two (2) working days from
the transaction under objection.
14. HANDLING OF CLIENT’S FUNDS
14.1 Funds belonging to the Client that will be used for trading purposes will be kept in an account with any
bank or financial institution used to accept funds which the Company will specify from time to time and
will be held in the Clients’ denominated bank accounts.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
It is understood that the Company may hold funds on behalf of the Client in a bank established outside the
European Union. The legal and regulatory regime applying to any such bank might be different from the
legal and regulatory regime in Cyprus and the European Union and in the event of the insolvency or any
other analogous events in relation to that bank, Client’s funds may be treated differently from the treatment
which would apply if the funds were held with a bank in an account in Cyprus and the European Union. The
Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.
14.2 Funds belonging to the Client that will be used for execution of Client’s transactions through EU regulated
investment firms will be kept in bank accounts maintained by the EU investment firms. In particular, the
Client’s funds will be transferred to the EU investment firm through which clients’ transactions will be
performed in order to meet Client’s obligation to provide collateral for a transaction (for example, an initial
margin requirement). It is understood that the Company will ensure that the EU investment firm follows
equivalent procedures with the Company as regards safeguarding of clients’ funds. In particular, the
Company shall ensure that the EU investment firm keeps clients’ funds in segregated bank accounts in
order to be separated from its own funds and that regular reconciliations are performed as regards clients’
funds.
14.3 The following steps have been taken by the Company in order to ensure the protection of Clients’ financial
instruments or funds:
14.3.1 Segregation and Denomination of Clients’ Accounts: As per the provisions of paragraph 12.1 of the
Agreement above, funds belonging to the Client that will be used for trading purposes will be kept in an
account with any bank or financial institution used to accept funds which the Company will specify from
time to time and will be held in Clients’ denominated bank accounts, segregated from the Company’s
own funds.
14.3.2 Investor Compensation Fund: The Company being a member of the Investors Compensation Fund (the
"Fund") provides the Client, is being categorized as retail clients, with the security of receiving
compensation from the Fund, for any claims arising from the malfunction on behalf of the Company or
if the Company fails to fulfil its obligations regardless of whether that obligation arises from a breach of
applicable law or regulations, the Agreement or from any wrongdoing by the Company.
By accepting the Agreement, the Client has read, understood and accepted the information under the title
"Investor Compensation Fund Policy" as this information is loaded on the Company’s main website public and
available for all Clients Investors Compensation Fund Policy of the Company. Payments under the Investor
Compensation Fund in respect of investments are subject to a maximum payment to any investor of EUR 20
000. However, the Client may not be eligible to qualify for compensation under this scheme.
14.3.3 Due diligence measures: The Company has the obligation to exercise all due skill, care and diligence in
selection, appointment and periodic review of the credit institution, bank where Clients’ funds are
placed. The Company’s due diligence measures have been designed in such a manner so as to ensure
that expertise and market reputation of such institutions are taken into consideration.
14.3.4 The Company may hold Clients’ funds in omnibus accounts with third party financial and credit
institutions. Hence, the Client is warned that there is a risk of loss emanating from the use of omnibus
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
accounts in financial or credit institutions. Omnibus accounts may also hold other types of risks including
legal, haircut risk, liquidation risk, third party risk and others.
14.4 It is commonly understood that any amount payable by the Company to the Client, shall be paid directly
to the Client to a bank account the beneficial owner of which is the Client
14.5 The Company retains a right of set off and may, at its discretion, from time to time and without the Client’s
authorization, set-off any amounts held on behalf and/or to the credit of the Client against the Client’s
obligation to the Company. Unless otherwise agreed in writing by the Company and the Client, this
Agreement shall not give rise to rights of credit facilities.
14.6 The Client has the right to withdraw the funds which are not used for margin covering, free from any
obligations from his Account without closing the said Account.
14.7 The Company reserves the right to decline a withdrawal request if the request is not in accordance with
certain conditions mentioned in this Agreement or delay the processing of the request if not satisfied on
full documentation of the Client.
14.8 It is within the Client’s terms that any incurring bank or payment systems fees will be paid by him in case
of funds withdrawals from his trading account to his designated bank account or account in any other
payment system. The Client is fully responsible for the payments details that he has provided to the
Company and the Company accepts no responsibility if the Client has provided false or inaccurate bank
details.
14.9
AFXMarkets Limited offers Negative Balance Protection guarantee to
all clients as part of the Client Agreement, as long as it is not manipulated and is accepted in good faith.
We are committed to ensuring that clients may never lose more than their total deposits. No client is
responsible for paying back a negative balance.
14.10
The Client agrees that any amounts sent by the Client in the Bank Accounts, will be deposited to the
Client’s trading account at the value date of the payment received and net of any charges / fees charged by
the Bank Account providers or any other intermediary involved in such transaction process. The initial
deposit for trading is 250 of Account Currency Unit. In order for the Company to accept any deposits by
the Client, the identification of the sender must by verified and ensure that the person depositing the funds
is the Client. If these conditions are not met, the Company reserves the right to refund the net amount
deposited via the method used by the depositor and reject the respective client from the use of the
investment services offered by the Company.
14.11
Withdrawals should be made using the same method used by the Client to fund his trading account and to
the same remitter. The Company reserves the right to decline a withdrawal with specific payment method
and to suggest another payment method where the Client needs to complete a new withdrawal request. In
the event that the Company is not fully satisfied with the documentation provided in relation to a
withdrawal request, the Company can request for additional documentation and if the request is not
satisfied, the Company can reverse the withdrawal request and deposit the funds back to the Client’s
trading account.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
14.12 All withdrawal requests will be processed on the same day that the request to withdraw funds was made, or
the next working day if the client's request is received outside of normal working hours. However, the time
needed for the funds to be reach your account may vary, depending on your selected payment method.
14.13 The client can place a withdrawal request from his Member’s page or by sending an email to
14.14 In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider at any
time and for any reason, the Company will immediately reverse the affected deposit from the Client’s trading
account and further reserves the right to reverse any other type of transactions effected after the date of the
affected deposit. It is understood that these actions may result in a negative balance in all or any of the
Client’s trading account(s).
The Client agrees to waive any of his rights to receive any interest earned in the money held in the Bank Account
where Client’s funds are kept.
15. ACCOUNT VERIFICATION
15.1 Following receipt of your Account Opening Application, we will use the information you have provided
us with to conduct further enquiries about you as we may deem necessary or appropriate in the
circumstances in order for us to fulfil our legal obligations; we will further use the information you
provide us with to assess and determine the appropriateness of you entering into a business relationship
with us. This includes, but it is not limited to, verifying your identity information, obtaining references
from third party database list, other financial institutions or your employer.
15.2 Verification documents required for Retail Clients may include but are not limited to:
• Proof of ID: Both sides and clear coloured copy of International Passport
• Proof of Address: (POR): A full clear page coloured copy of a recent utility bill, bank statement or
any other local authority bill. Your proof of address must include your full name and residential
address and have been issued within the last 6 months.
The Company reserves the right to request additional supporting documents during the verification of the
Client’s Trading Account and on an ongoing basis during the business relationship if such information is
required either due to legal and/or regulatory obligations that the Company may have or if such information
are necessary so as the Company may efficiently offer its services to the Client.
In case the Client fails to provide the Company with any additional supporting documents including, inter
alia, up to date verification documents, within the specified timeframe, the Company shall be entitled to
terminate this Agreement immediately, close the account and all open positions.
Verification documents required for Professional Clients:
• Corporate Account Application form
• Certificate of Incorporation and Certificate of Change of Name*
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
• Certificate of good standing of the legal entity, if any (not older than 6 months)
• Certificate of registered office
• Certificate of Directors and Secretary
• Certificate of Shareholders*
• Memorandum and Articles of Association
• Resolution of the board of directors stating that the company intends to open an account with the
Company and assigning a person to act as the representative of the legal person and operate the account
• Proof of ID - Individual verification of all beneficial owners, registered shareholders, directors and
representatives of the company
• Proof of Address - for each beneficial owner, director, registered shareholder and representative of the
company.
• Copies of its latest audited financial statements and/or copies of its latest management (if available)
and/or a Company’s declaration containing the company’s assets (including current assets), liabilities,
share capital and reserves as well as the Company’s turnover. The said declaration should be signed by
a managing director or a Company’s representative holding a relevant Power of Attorney.
* Equivalent information can be obtained from the Incumbency Certificate, signed by the Secretary of the
company. All documents must be certified true copies of the originals within the last 6 months.
Request for different categorisation
i.
Retail Client requesting to be categorised as an Elective Professional Client. In that case the Client will
be afforded a lower level of protection.
ii.
A Professional Client requesting to be categorised as a Retail Client. In that case the Client seeks to obtain
a higher level of protection
iii.
An Eligible Counterparty requesting to be categorised as a Professional Client or Retail Client. In that
case the Client seeks to obtain a higher level of protection. The Company reserves the right to decline
the above requests for different categorisation.
It is understood that we are not required to accept a person as our Client until all required Documents or
other information/documentation we request has been received, properly and fully completed by such person
and all internal Company checks have been duly satisfied. It is further understood that we reserve the right to
impose additional due diligence requirements to accept certain Clients or continue the provision of services
to certain Clients.
In circumstances where the verification of the client’s identity has not been verified prior to the establishment
of the business relationship, if the following conditions are met, the client will still be able to deposit funds in
this account with the ability to trade. The conditions to be met are as follows:
1. Provided that the necessary information for the construction of economic profile and assessment of
appropriateness (and assessment of suitability for portfolio management service) was provided by the
client;
2. This is necessary not to interrupt the normal conduct of business (e.g. non face to face relationship,
cross border services);
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
3. Where there is a little risk of money laundering or terrorist financing; and
4. Where the process of verification is completed as soon as possible and not later than 10 business days, as
outlined below.
The client should bear in mind:
1.
If the verification of the client’s identity has not been completed, the accumulative amount of deposited
funds of a client should not exceed €2000, irrespective of the number of accounts the client/beneficial
owner holds with the Company. The amount of €2000 does not automatically categorise the client as a
low risk client.
2.
The verification procedure must be completed within 10 business days of the acceptance of the Client
Agreement or your first deposit, which comes first.
3.
If the 10th day falls on a day which is not a business day in Cyprus or where the Company
considers this day not to a be a business day of the Company, including but not limited to, weekends
or local public holiday, then the Company will, in its sole and absolute discretion, consider the last
business day after the expiry of the 10th day as the last day by which all the customer’s account details
and documents had to be verified.
4.
The cumulative time in which the verification of the identity of a customer/beneficial owner is
completed, must not exceed 10 days from initial contact.
5.
If the client failed to complete the verification process (e.g. identification documents are not received
neither finalised) within 10 working days from the initial contact referred to above, we will, without
any claim or liability for any damages or otherwise, close your account.
6.
If the client failed to complete the verification process, the funds shall be returned to the place from
where the client made the deposits, in the same way they were originally made, notwithstanding whether
the client initiated a withdrawal request. The client’s deposits shall be originated from a bank account
(or through other means that are linked to a bank account e.g. credit card), that is in the name of the
client, in such case the Company shall be able to verify the account holder.
7.
If the accumulated deposit exceeds the amount of €2000, the Company reserves the right to close
client’s open trades and disable trading. If client fails to pass the verification process within 10 business
days, the Company will return the funds back to the client.
8.
The returned funds (deposits) include any profits the customer has gained during their transactions and
deducting any losses incurred.
9.
The first deposit of the client shall be originated from an EU bank.
10. The Company will undergo at least one Enhanced Due Diligence measure, as per its internal policies
and procedures in relation to the prevention of money laundering and terrorist.
16. MARGIN AND DEPOSIT REQUIREMENTS
a. The Client shall provide and maintain Margin in accordance with the terms of this Agreement to secure
Client’s obligations to the Company. The Client must maintain at all times the minimum Margin
requirement for the Open Positions in Client’s Account. Margin Requirements shall be as published
on the Company’s website. The Company has the right to liquidate any or all Open Positions whenever
the minimum Margin requirement is not maintained.
b. The Margin shall be paid in a currency acceptable by the Company and such Margin deposits will be
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
treated as Client’s funds in accordance with the terms of this Agreement and the provisions of the legal
framework. It is the Client’s responsibility to understand the Margin requirement mechanisms and
reference shall be made to the Company’s website.
c. The Client needs to continuously monitor any Open Positions in Client’s Account in order to avoid
being closed due to unavailability of funds and the Company is under no obligation to make calls for
margin. The Company will endeavour to notify the Client, as soon as it is reasonably practicable, on
the amount of any Margin payment required, for the Client’s convenience. It is the Client’s
responsibility to notify the Company in case the Client is unable to meet a Margin requirement.
d. In the event that the Client fails to meet a Margin call and/or make the necessary Margin payment, the
Company reserves the right to immediately close the Client’s Open Positions at current market price,
without obtaining the consent of the Client. Any failure by the Company to enforce its rights hereunder
shall not be deemed as a waiver of such rights by the Company and the Company maintains the right
to liquidate Client’s Open Positions in case of inadequate funds without calling Margin.
17. PAYMENTS, COSTS AND TAXES
17.1 The Company is entitled to receive fees from the Client for its Services provided as described in the
Agreement as well as compensation for the expenses it will incur for the obligations it will undertake during
the provision of the said Investment Services. The Company reserves the right to modify, from time to time
the size, the amounts and the percentage rates of its fees providing the Client with a respective notification
of such changes accordingly. Notification is made via the Company’s website.
17.2 In case of any value added tax or any other tax obligations that arise in relation to a transaction performed
on behalf of the Client or any other action performed under this agreement for the Client, the amount
incurred is fully payable by the Client and in this respect the Client must pay the Company immediately
when so requested and the Company is fully entitled to debit the account of the Client with the outstanding
amount to be settled (excluding taxes payable by the Company in relation to Company’s income or profits).
17.3 By accepting the terms and conditions specified in this agreement, the Client has read and understood and
accepted the information uploaded and found on the Company’s main website and is publicly available for
all Clients, in which all related commission, costs and financing fees are explained. The Company may
amend from time to time at its own discretion all such commission, costs and financing fees. All
information relating to the aforementioned amendments will be available on the main website which the
Client must review and check for changes during the period that he is dealing with the Company and
especially before placing any orders with the Company. The Client is deemed to have seen, reviewed and
considered the Company’s commission, costs and financing fees and any changes that the company may
make thereto from time to time. For more information regarding Company’s costs and financing fees please
visit our website.
17.4 Client should consider there are administrative account handing costs. Should the account be fully
verified according to this agreement, the company shall wave such costs. For other cases, the Company
may charge account handling fees of up to 250 Account Currency Units, plus 10% of the of the total
deposits made to the account.
17.5 If we receive, for any reason, a dispute, claim, and/or chargeback from your credit card issuer or any
other payment method you use, you acknowledge that the Company has the right to take any or all of the
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
following measures, at our discretion:
a. Immediately place restrictions on your trading account with or without any notice, including the
restriction on making deposits using any payment method to your trading account, even in cases
of margin calls, the restriction on requesting withdrawals from your trading account, and the
restriction on opening new positions on the trading Platform.
b. The duration of the restrictions will be set at the Company’s discretion
c. Terminate the Agreement and any other legal binding documents
d. Immediately cancel/close any or all of your open trades whether at a loss or a profit and debit or
credit respectively.
e. Impose a fee up to
1000 (equivalent of the account currency) for chargeback handling.
Additionally, the expenses for legal and reimbursement for the Company’s damages will be
charged.
18. OVERNIGHT SWAP
18.2 All spreads offered by the Company are floating. Spreads may vary during moments of high volatility or
when the global financial markets are not active. When clients try opening trades during such moments in
the market, specific spreads for that time will be shown. Swap is calculated and applied for the positions
held overnight based on the interest rate differential between the two currencies on long/short open
positions. Any position held open overnight from Wednesday to Thursday, swap is charged at a triple rate.
The latest swap rates can be found on Company’s Trading Platform. Please note that the swaps take place
at 23:59:59 GMT and will be shown on client’s account by the next trading day. Please refer to Contract
Specifications available on our website for a detailed analysis.
18.3 Such charges shall be applied as they are incurred or the Company in its sole and absolute discretion, may
determine and client hereby authorizes the Company to deduct the amount of any such fees from the client’s
account(s).
19. EXPIRATION OF FUTURE CONTRACTS AND ROLLOVER PROCEDURE
19.1 The expiry date for a specific Instrument is displayed on the Trading Platform in the Symbol Specification
for each specific Instrument. You acknowledge that it is your responsibility to make yourself aware of
the expiry date.
19.2 If you do not close an open Transaction with respect to an Instrument which has an Expiry Date, prior to
such Expiry Date, the Transaction shall automatically close upon the Expiry Date. The Transaction shall
close at a price which will be the last price quoted on the Trading Platform on the next day after expiration.
19.3 In the event that you wish to keep the position to open which has an Expiry Date, prior to such Expiry
Date, you are shall contact the Company and request to roll over the position to the next available
contract. The Rollover Declaration shall be filled and signed by the client in order to fulfill client’s
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
request for the rollover of the position. For more information please contact our Support Department via
19.4 Where a Rollover occurs, the previous expired position will be closed and a new position on the next
available contract will be opened with the same volume. In these cases, an adjustment will be made to
your balance in order to reflect the difference between the closing price of the expired contract and the
opening price of the new contract depending on the type of position (long or short).
19.5 You acknowledge that it is your responsibility to make yourself aware of the specific Instrument details
available in the Symbol Specification available on the Trading Platform. In respect of a Rollover of an
open position, it is your responsibility to ensure that your trading account has sufficient cleared funds to
meet the margin required on any relevant new trade to be entered into as part of a Rollover.
20. INACTIVE AND DORMANT ACCOUNTS
18.1 If a client in inactive for a period of
6 (six) months and more, in the presence of closed
trades/positions, with positive balance, inactivity fee will be charged and debited from the assets held
in the accounts:
18.1.1 The Company reserves the right to charge a fixed fee of 25 (twenty-five) of Account
Currency Unit, every month in order to maintain the account, on the condition that the Client
account has the available funds.
18.1.2 The Company reserves the right to charge a fixed fee of 500 (five hundred) of Account
Currency Unit, every quarter for implementation and support.
18.1.3 The Company reserves the right to charge a fixed fee of 1000 (one thousand), of Account
Currency Unit, due to no activity for 6 months.
18.2. The Company reserves the right to disable/close an account, terminate the present agreement and
notify the client:
18.2.1 In the absence of any trading activity with no deposit of funds taken place for a period of 6
(six) months
18.2.2 In the presence of closed trades/positions, the balance remains zero for a period of 6 (six)
months
The fees are debited from the assets until the assets are used up. An email will be sent to the client informing
regarding the charged fixed fee before the first execution.
19. COMPANY LIABILITY AND INDEMNITY
It shall be noted that the Company will perform transactions in good faith and with proper
due diligence but shall not be held liable for any omission, deliberate omission or fraud by any person, firm or
company from whom the Company receives instructions for the execution of the Client’s Orders and/or from
which transactions are carried out on behalf of the Client, including where this would be the result of negligence,
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
deliberate omission or fraud on the part of the Company.
The Company will not be held liable for any lost opportunities by the Client that have resulted in either losses
or reduction (or increase) in the value of the Client’s Financial Instruments.
In case the Company incurs any claims, losses, damage, liability or expenses that arise throughout the provision
of the Services and all related operations that are performed as a mean for these Services to be performed to the
Client as these are agreed in this Agreement or in relation to the potential disposal of the Client’s Financial
Instruments, the Client is fully liable for these losses/expenses/liabilities/claims whereas the Company bears
absolutely no responsibility and it is therefore the Client’s responsibility to indemnify the Company for the
aforementioned.
a.
The Company shall not be held liable for any damage caused to the Client as a result of any omission,
negligence, deliberate omission or fraud by the bank where the Bank Account is maintained.
b.
The Company shall not be held liable for the loss of Financial Instruments and funds of the Client in
cases where the Client’s assets are kept by a third party such as a bank, or for an act, which was carried
out based on inaccurate information at its disposal prior to being informed by the Client, of any change
in the said information.
c.
The Company makes every effort to ensure that the Banks and institutions to which the Client’s funds
and/or Financial Instruments are deposited are of good standing and reputation. However, the Company
shall not be held liable in the event of a loss resulting from deterioration of the financial standing of a
bank or institution, or for an event such as a liquidation, receivership or any other event that causes the
Bank or institution of a failure and therefore leads to a loss of all or part of the funds deposited.
Without prejudice to any other terms of this Agreement, the Company will not be liable for:
a. Systems errors (Company’s or service providers)
b. Delays
c. Viruses
d. Unauthorized use
e. For any act taken by or on the instruction of a Market, clearing house or regulatory body.
d.
The Company shall not be liable to the Client for any partial or non-performance of its obligations
hereunder by reason of any cause beyond reasonable control of the Company, including without
limitation any breakdown, delay, malfunction or failure of transmission, communication or computer
facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or
supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or
principal of the Company’s custodian, sub- custodian, dealer, Market, clearing house or regulatory or
self-regulatory organisation, for any reason, to perform its obligations.
e.
Neither Company nor its directors, officers, employees, or agents shall be liable for any losses, damages,
costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise,
incurred or suffered by the Client under this Agreement (including any Transaction or where the
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
Company has declined to enter into a proposed Transaction). In no circumstance, shall the Company
has liability for losses suffered by the Client or any third party for any special or consequential
damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection
with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or
otherwise.
f.
The Client shall pay to the Company such sums as it may from time to time require in or towards
satisfaction of any debit balance on any of Client’s accounts with the Company and, on a full indemnity
basis, any losses, liabilities, costs or expenses (including legal fees), taxes, imposts and levies which
the Company may incur or be subjected to with respect to any of the Client’s accounts or any
Transaction or any matching Transaction on a Market or with an intermediate broker or as a result of
any misrepresentation by the Client or any violation by the Client of his obligations under this
Agreement (including any Transaction) or by the enforcement of the Company’s rights.
g. The Client acknowledges that he has not relied on or been induced to enter into this Agreement by a
representation other than those expressly set out in this Agreement. The Company will not be liable to
the Client for a representation that is not set out in this Agreement and that is not fraudulent.
20. Force Majeure
The Company will not be liable to the Client for a failure to perform any obligation or discharge any duty
owed under this Agreement if the failure results from any cause beyond our control, including, without
limitation:
a) acts of God, war, fire, flood, earthquake or other natural disaster;
b) terrorist attack, civil war, threat of or preparation for war, imposition of sanctions, explosions;
c) postal or other strikes or similar other industrial actions or disputes;
d) any law or any action taken by a government or public authority;
e) any breakdown, or interruption of power supply, or failure of utility service or of transmission or
communication or computer facilities;
f) hacker attacks or other illegal actions against the Company’s electronic Trading Platform or of the
equipment of the Company;
g) the suspension, liquidation or closure of any market or the abandonment or failure of any event to
which the Company relates its Quotes, or the imposition of limits or special or unusual terms on
trading in any such market or on any such event;
h) the failure of any relevant exchange, clearing house and/or broker for any reason to perform its
obligations;
In case such an event occurs and the Company reasonably believes that Force Majeure exists, the Company
may, without any prior notice to the Client, at any time and without limitations, take any of the following
actions:
a) increase margin requirements;
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
b) determine at its discretion the quotes and spreads that are executable through the Trading
Platform
c) decrease leverage;
d) close out any or all Client’s Open Positions at such prices as the Company considers in good
faith to be appropriate;
e) suspend or freeze or modify any or all terms of this Agreement to the extent that the Force
Majeure makes it impossible or impracticable for the Company to comply with them;
f) suspend the provision of any or all services of this Agreement;
g) take or omit to take any other actions as the Company deems reasonable with regards to the
position of the Company, the Client and all the other Company Clients;
21. DURATION OF THE AGREEMENT AND AMENDMENT THEREOF
a) This Agreement shall take effect upon its acceptance by the Client which is signified by the opening of
the Trading Account and the depositing of funds. It shall be valid for an indefinite time period until its
termination from either the Company or the Client or both.
b) The Agreement may be amended on the following cases:
Unilaterally by the Company if such amendment is necessary following any change in the legislation
and/or decisions and/or EU Directives and/or regulations of the Market and/or the CySEC and/or other
appropriate authorities in the Republic of Cyprus or abroad that affect this Agreement. In any such case,
the Company shall notify the Client of the said amendment which shall take effect immediately without
the Client’s consent by publishing the new version of the Agreement and/or other related
documentation/information on the Website.
c) In cases where the amendment of the Agreement is not required by any change in the legal framework,
the Company shall notify the Client of the relevant amendment either in writing or through its main
webpage. If objections arise, the Client may terminate the Agreement within five (5) days from the
notification by sending a registered letter and on the condition that all pending transactions on behalf of
the Client shall be completed. Upon expiry of the above deadline without the Client having raised any
objection, it shall be considered that the Client consents and/or accepts the content of the amendment.
d) The Client understands that it is their sole responsibility to remain up to date with all changes.
22. TERMINATION OF AGREEMENT
The Client has the right to terminate the Agreement by giving the Company at least thirty (30) days notice by
obliged to close all open positions. In the case where the Client has open positions during the termination period,
then the Company reserves the right to close all Clients’ open positions. During the termination notice, the
client will then need to withdraw his full balance. Upon termination of this Agreement, the Company will be
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
entitled, without prior notice of the Client, to cease the access of the Client to the Company’s Trading Platform.
a) The Company may terminate the Agreement by giving the Client a five (5) days written notice, specifying
the date of termination therein.
b) The Company may terminate the Agreement immediately without giving any notice in the following
cases:
c) Death of the Client;
a)
In case of a decision of bankruptcy or winding up of the Client is taken through a meeting or through
the submission of an application for the aforementioned;
b)
Termination is required by any competent regulatory authority or body;
c)
The Client violates any provision of the Agreement and in the Company’s opinion the Agreement
cannot be implemented;
d)
The Client violates any law or regulation to which he is subject, including but not limited to, laws and
regulations relating to exchange control and registration requirements;
e)
The Client involves the Company directly or indirectly in any type of fraud.
f)
An Event of Default as defined in Section 18 of this Agreement occurs.
g)
The termination of the Agreement shall not in any case affect the rights which have arisen, existing
commitments or any contractual provision which was intended to remain in force after the termination
and in the case of termination, the Client shall pay:
h)
Any pending fee of the Company and any other amount payable to the Company;
i)
Any charge and additional expenses incurred or to be incurred by the Company as a result of the
termination of the Agreement;
j)
Any damages which arose during the arrangement or settlement of pending obligations.
k)
In case of breach by the Client in accordance with Paragraph 18.3 the Company reserves the right to
reverse all previous transactions which place the Company’s interests and/or all or any its clients’
interests at risk before terminating the Agreement.
23. EVENTS OF DEFAULT AND RIGHTS ON DEFAULT
The following shall constitute “Events of Default” on the occurrence of which the Company shall be authorised
to exercise its rights in accordance with Paragraph 20.2 below:
a) the failure of the Client to make any payment when due under this Agreement, including but not limited
to initial Margin deposit or any other payment to meet Margin requirements.
b) the failure of the Client to observe or perform any other provision of this Agreement and such failure
continues for one Business Day after notice of non- performance has been provided to the Client by the
Company.
c) the commencement by a third party of procedures seeking the Client’s bankruptcy (in case of natural
person) or the Client’s insolvency or other similar voluntary case of liquidation (in case of legal person)
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
under the applicable laws or any other similar proceedings which are analogous to thosepre-mentioned
in relation to the Client.
d) the Client takes advantage of delays occurred in the prices and places Orders at outdated prices, trades
at off-market prices and/or outside operating hours and performs any other action that constitutes
improper trading.
e) the Client dies or becomes of unsound mind (if natural person).
f) any representation or warranty made or given or deemed made or given by the Client under this
Agreement proves to have been false or misleading in any material respect as at the time it was made
or given or deemed made or given.
g) any other situation where the Company reasonably considers it necessary or desirable for its own
protection or any action is taken or event occurs which the Company considers that might have a
material adverse effect upon the Client’s ability to perform any of its obligations under this Agreement.
On the occurrence of an Event of Default the Company shall be entitled to take, in its absolute discretion, any
of the following actions at anytime and without giving prior notice to the Client:
a) instead of returning to the Client investments equivalent to those credited to the
b) Client’s account, to pay to the Client the fair market value of such investments at the time the Company
exercise such right, and/or
c) to sell such of the Client’s investments as are in the Company’s possession or in the possession of any
nominee or third party appointed under or pursuant to this Agreement, in each case as the Company
may in its absolute discretion select or and upon such terms as the Company may in its absolute
discretion think fit (without being responsible for any loss or diminution in price) in order to realise
funds sufficient to cover any amount due by the Client hereunder, and/or
d) to close out, replace or reverse any Transaction, buy, sell, borrow or lend or enter into any other
Transaction or take, or refrain from taking, such other action at such time or times and in such manner
as, at the Company’s sole discretion, the Company consider necessary or appropriate to cover, reduce
or eliminate its loss or liability under or in respect of any of Client’s contracts, positions or
commitments, and/or
e) to treat any or all Transactions then outstanding as having been repudiated by the Client, in which event
the Company’s obligations under such Transaction or Transactions shall thereupon be cancelled and
terminated.
24. ACKNOWLEDGEMENT OF RISKS
a) It shall be noted that the due to market conditions and fluctuations, the value of Financial Instruments
may increase or decrease, or may even be reduced to zero. Regardless of the information the Company
may provide to the Client, the Client agrees and acknowledges the possibility of these cases occurring.
b) The Client is aware and acknowledges that there is a great risk of incurring losses and damages as a
result of the investment activity (purchase and/or sale of Financial Instruments) through the Company
and the Company’s Trading Platform and accepts that he is willing to undertake this risk upon entering
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
into this business relationship.
c) The Client declares that he has read, understood and unreservedly accepted the following:
Information of the previous performance of a Financial Instrument does not guarantee its current and/or
future performance. Historical data are not and should not be considered as reflective of the future returns
of any Financial Instrument.
d) In cases of Financial Instruments traded in currencies other than the currency of the Client’s country of
residence, the Client is running the risk of a change in the exchange rate that will decrease the value and
price of the Financial Instruments and in effect their performance.
e) The Client must be aware that he is running the risk of losing all of his funds invested, and must only
purchase Financial Instruments if he is willing to do so, if happened. Further, all expenses and
commissions incurred will be payable from the Client.
f)
The Client acknowledges and accepts that there may be other risks which are not contained in Section
23 and that he has read, understood and accepted all information the Company’s Risk Disclosure
information loaded on the Company’s webpage public and available to all Clients.
The Client reads, acknowledges and accepts the following:
i.
Information of the previous performance of a Financial Instrument does not guarantee its current and /
or future performance. The historical data should not be considered as reliable indicators of the future
performance of a Financial Instrument.
ii.
The investing may result to the loss of all of the Clients funds which have been invested, and hence the
Client should invest in Financial Instruments if he/she is willing and able to afford the aforementioned
risks.
iii.
For Financial Instruments traded in currencies other than the currency of the Client’s country of
residence, the Client is exposed to foreign exchange risk that will therefore decrease the value and price
of the Financial Instruments and/or their performance.
25. CONFIDENTIALITY
The Company does not have any obligation to disclose to the Client any information or take into consideration
any information either when making any decision or when it proceeds to any act on behalf of the Client, unless
otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations
and directives in force.
The Company has the right, without informing the Client beforehand, to disclose such details of the Client’s
transactions or such other information as it may deem necessary in order to comply with any requirements of
any person entitled to require such a disclosure by Law.
The Company will use, store, process and handle all of Client’s personal data provided in connection with the
provision of the Services, in accordance to the Processing of Personal Data (Protection of the Individual) Law
of 2001, as amended, as all relevant regulations (the “Data Protection Laws”) and all Applicable Regulation.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
You acknowledge that we shall keep your personal data for as long as our business relationship is in force and
for any additional period required for regulatory purposes.
Further information of how we process personal data including inter-alia our lawful basis of process personal
data and information in respect of transfer of personal data are specified in our Privacy Policy available on our
website.
Client has read and accepted the terms of the Privacy Policy that the Company has adopted as this policy is
mentioned in detail in the Company’s main website public and available to all Clients.
26. NOTICES
26.1 Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other
communications to be given to the Company by the Client under the Agreement shall be in writing and shall
be sent to the Company’s mailing address as indicated in Section 2 of this Agreement or to any other address
which the Company may from time to time specify to the Client for this purpose and shall take effect only
when actually received by the Company, provided they do not violate and are not contrary to any term of
this Agreement.
26.2 The Company reserves the right to specify any other way of communication with the Client.
The Agreement is personal to the Client who does not have the right to assign or transfer any of his rights
and/or obligations hereunder.
27. PERSONAL DATA AND RECORDING OF TELEPHONE CALLS
27.1 In order to provide Services effectively and in accordance with Applicable Regulations, the Company
collects and store Client’s Personal Data.
27.2. By entering into this Agreement, the Client acknowledges and consents to use, storage and process the
Client’s Personal Data. The Company may record telephone conversations between the Client and the
Company’s employees or representatives without use of a warning tone to ensure that the material terms
of the Transaction, and any other material information relating to the Transaction is promptly and
accurately recorded. Such records will be the Company’s sole property and accepted by the Client as
evidence of the Orders or instructions given. We draw to the attention that the Company's systems enable
the Company to monitor telephone, email, voicemail, internet and other communications. In order to carry
out our legal obligations and for other business reasons and customer service and security reasons, the
Company may monitor use of systems. Such monitoring is only carried out to the extent permitted or as
required by law and as necessary and justifiable for business purposes and are kept by the Company for a
duration of five (5) years from the date of termination of the Agreement, unless Applicable Regulations
require otherwise.
27.3 Subject to Applicable Regulations, the Company will keep records containing Client Personal Data, trading
information, communication and anything else which relates to the Client for five (5) years after
termination of the Agreement.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
28. HANDLING OF COMPLAINTS
The Company has in place internal procedures for handling complaints fairly and promptly. The Client may
submit a complaint to the Company by sending an email to [email protected]. The Company will
send the client a written acknowledgement of the complaint promptly following receipt, enclosing details of the
Company’s complaints handling procedures, including when and how the Client may be able to refer its
complaint to the CySEC which is the relevant regulatory body. The Client is advised to contact the Company if
he would like further details regarding its complaints handling procedures or to review the Complaints Handling
Policy available on our website under Legal Documentation Section.
29. CONFLICT OF INTEREST
The Company is obliged, under the relevant rules and regulations, to ensure that it is in a position to identify
and responsibly manage and control and, where necessary, disclose the conflicts of interest arising in relation
to its business and to reduce the risk of the Client disadvantage and reduce the risk of legal liability, regulatory
censure or damage to the Company’s commercial interests and reputation and to ensure that it complies with
legislative requirements and the departmental and general procedures which are set by the Company’s Internal
Procedures Manual. By accepting the Agreement, the Client has read, understood and accepted the information
under the Conflict of Interest Policy of the Company.
30. GENERAL PROVISIONS
29.1 The Client acknowledges that no representations were made to him by or on behalf of the Company which
have in any way incited or persuaded him to enter into the Agreement.
29.2 In case of joint-trading Accounts for two or more persons who will jointly be considered as Company’s
Client, the Client’s obligations under the Agreement shall be joined and several and any reference in the
Agreement to the Client shall be construed, where appropriate, as reference to one or more of these persons.
Any warning or other notice given to one of the persons which form the Client shall be deemed to have
been given to all the persons who form the Client. Any Order given by one of the persons who form the
Client shall be deemed to have been given by all the persons who form the Client.
29.3 In case any provision of the Agreement is or becomes, at any time, illegal void or non- enforceable in any
respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity or enforceability
of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in
accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
29.4 All Transactions on behalf of the Client shall be subject to the laws which govern the establishment and
operation, the regulations, arrangements, directives, circulars and customs (jointly hereinafter called the
"Laws and Regulations") of the Cyprus Securities and Exchange Commission (CySEC), the Central Bank
of Cyprus and any other authorities which govern the operation of the Investment Firms (as defined in such
Laws and Regulations), as they are amended or modified from time to time. The Company shall be entitled
to take or omit to take any measures which it considers desirable in view of compliance with the Laws and
Regulations in force at the time. Any such measures as may be taken and all the Laws and Regulations in
force shall be binding for the Client.
29.5 The Client shall take all reasonably necessary measures (including, without prejudice to the generality of
the above, the execution of all necessary documents) so that the Company may duly fulfil its obligations
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
under the Agreement.
The location of detailed information regarding the execution and conditions for the investment transactions
in Financial Instruments conducted by the Company and other information regarding the activity of the
Company are accessible and addressed to any natural persons and legal entities at the Company’s website
over the Internet - www.afx-markets.com.
Important Notice: By accepting this Client Agreement, the client agrees and accepts the
terms and conditions contained in the Agreement as well as other documentation/information/policies on the
Website. The content of the website in relation to the legal obligations of the CIF is not differentiated based on
the IP address of your website.
31. APPLICABLE LAW AND JURISDICTION
This Agreement and all transactional relations between the Client and the Company are governed by the Laws
of Cyprus and the competent court for the settlement of any dispute which may arise between them shall be the
District Court of the district in which the Company’s headquarters are located.
The Company may use a Third Party in a country outside European Economic Area and where the holding and
safekeeping of financial instruments is not regulated. The Company will only do so when the nature of the
financial instruments or of the other services provided for the Client requires them to be deposited with such a
Third Party or where the Company consider that this course of action is consistent with the Company’s
obligations and services to the Client.
AFXMarkets is owned and operated by AFXMarkets Limited v.4
AFXMarkets Limited registered as a Cyprus Investment Firm and
regulated by Cyprus Securities and Exchange Commission (CySEC).
